a big announcement there by obama. a new trans-atlantic trade agreement. what will it mean for europe, do you think? >> as we heard in your report, it would probably be a significant boost to growth and jobs. people are saying up to 1.5 additional percentage points a year in a growth on both sides of the atlantic, so that this is significant boost. in fact, it would not cost anything except what it cost for all the negotiating teams to sit around the table. they might wind up doing that for quite some time. the fact is this issue has been discussed for some years now. this today was the highest level endorsement we have heard coming from president barack obama, but the fact is the devil is in the details. it has been discussed and often has got hung up on details like farm agreements, for example. the massive foreign lobbying on both sides of the atlantic would surely make things difficult. we know, for example, that the u.s. foreign lobby would like to sell its products in european markets with no limits whatsoever, which means genetically modified crops